Digital economies
EU pledges more than $18m to support growth
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THE European Union (EU) has pledged EUR 8 million (more than $F18 million) for the next three years to support the growth of inclusive digital economies as drivers of economic development in the Pacific through a partnership with the UN Capital Development Fund (UNCDF) and its flagship Pacific Digital Economy Programme.
The Chargée d’affaires, acting Head of Delegation of the European Union for the Pacific, Dr Erja Askola said, “Digital technology will be at the forefront of development efforts in the Pacific region where the challenges of remoteness and territorial dispersion call for innovative digital solutions”.
“The Pacific Digital Economy Programme will strengthen digital and financial literacy and customer protection mechanisms in the emerging digital economy.
“This will in turn have a positive impact on the lives of Pacific Islanders by reducing poverty, improving livelihoods, and contributing to economic growth,” she said.
UNCDF Regional lead for the Pacific Region Neha Mehta said, “We are exceedingly grateful for the level of cooperation and support from the EU, the support will help shape and strengthen Pacific Island economies.
“Digital is the new frontier of financial inclusion, literacy, and education and UNCDF’s goal is to equip and empower millions more Pacific Islanders by 2024 to use innovative digital services in their daily lives ensuring no one is left behind,” said Ms Mehta.
The Pacific countries benefitting from the initiative are Fiji, Samoa, Vanuatu, Solomon Islands, Tonga, the Federated States of Micronesia, Kiribati, the Republic of Marshall Islands, Papua New Guinea and TimorLeste.